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Is Unemployment Income?

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    Is Unemployment Income?

    Is unemployment counted as income for determining your median income for BK?
    I am asking for another person.

    #2
    It depends on your district, and even then it is up in the air. We were in the position of qualifying or a 7 if you count my unemployment as income or if we claimed it as exempt as a social security benefit. As a test we claimed that it was not income and the US Trustee let us through.

    Now, it could be that we were just not he case he wanted to take, because we most likely would have made a bad precedent from their perspective that would allow the exception.

    So, not a very clear answer of "it depends."

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      #3
      I had to turn it in on my taxes this year so I would assume it is considered income.

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        #4
        I have to report it for taxes, and I had to report it for the BK. The trustee specifically asked which one of us, 'Hub or I, was it for? I said it was mine.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

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          #5
          Short answer is yes.
          Filed Ch 7 - 6/30/08
          341 Meeting - 7/31/08
          Discharged - 9/30/08
          Closed (finally) - 2/10/09

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            #6
            Thanks, I thought it counted, but I still had to ask to make sure.

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